HP IT

Chairman’s message

Dear Shareholders,
2011 was characterised by ongoing economic difficulties: recession in OECD countries, slower growth in emerging economies and a weakening of global demand.
In this context, Autogrill posted income and financial results that improved on the previous year, despite a
marked contraction in traffic and inflationary pressure on energy and raw material costs of food.

Letter to the Stakeholders

Despite the difficult economic scenario, Group performance in the past year was positive.

The complexity of the period served as a stimulus to enhance the Group approach towards sustainability, which is no longer considered as a “nice to have”, but as a driver that can further foster innovation and competitiveness.